On Thursday evening, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her statement seemed accurate for numerous observers. It remains one of the broadcasters where there exists grounded and mostly trustworthy reporting – notably during crises like the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Position Amid a High-Stakes Battle
However the news network, now 45 years old, finds itself in a precarious situation as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-risk game of corporate ownership, not as a question of what benefits the information-seeking public.
“This is yet another example of the deep structural problems with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a business story with influential figures as the central actors, but there is hardly any discussion of the public interest,” Pickard said.
The Additional Layer: Political Influence
The network's predicament is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Remember the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to like that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. This might be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could set up CNN for another sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu stated.
The Fundamental Problem and a Path Forward
No matter the outcome with this particular battle, the larger issue persists.
“What we have now is a profoundly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can tackle it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will not happen in the future.
Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and outlaw the consolidation of media power in very few hands are achievable – they are necessary for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the newest corporate chess match.
